The banking sector mirrors the economy and is pivotal to economic growth. Introduction of major policy reforms, huge untapped potential in India and the diversity of the sector are drivers of growth and present a compelling investment opportunity. SBI-ETF Nifty Bank emulates the Nifty Bank Index that essentially reflects the capital market performance of Indian Banks, allowing you to tap into this potential. Invest and be a part of this growth.

Features:

Minimum application amount directly with fund: Authorised Participants and Large Investors can directly purchase/ redeem in blocks from the fund in 'Creation Unit' size on any business day. On the Exchange – The units of the scheme can be purchase/ redeem in minimum lot of 1 unit and in multiples thereof.

Dematerialization: The units of the Scheme will be available in the Dematerialized (electronic) mode only.

The applicant under the Scheme will be required to have a beneficiary account with a Depository Participant of NSDL/CDSL and will be required to indicate in the application, the DP’s name, DP ID Number and beneficiary account number of the applicant with the DP.

Units of the Schemes will be issued/repurchase and settled compulsorily in dematerialized form. Applications without relevant details of investor’s depository account are liable to be rejected.

Exchange Listing: Fund will be listed on National Stock Exchange of India Ltd. (NSE Ltd.)

Unit holders, other than Authorised Participants and Large Investors, can redeem units in less than Creation Unit Size of the Scheme directly with the Mutual Fund in the following cases:

if the traded price of the ETF units is at a discount of more than 3% to the NAV for continuous 30 days; or

if discount of bid price to applicable NAV is more than 3% over a period of 7 consecutive trading days; or

if no quotes are available on exchange for 3 consecutive trading days; or

when the total bid size on the exchange is less than half of Creation Unit size daily, averaged over a period of 7 consecutive trading days.

In such a scenario valid applications received up to 3 p.m. by the Mutual Fund shall be processed and the Redemption proceeds would be paid in cash and would be as per the NAV of the Scheme declared by the Mutual Fund at the end of the day on which the Redemption request is received. Any redemption as specified above shall be made without any payments of Exit Load.

Note: Please select the date below to check the availability of this direct redemption option

Mr. Raviprakash Sharma

Managing this fund since Mar 2015.

Total Experience 16 years .

See all funds managed by Mr. Raviprakash Sharma

Mr. Raviprakash Sharma

Description :

Raviprakash joined SBIFM in 2011. He has over 16 years of experience in Indian capital markets, spanning across Equity & Fixed Income. Raviprakash had joined us from HDFC Asset Management where he was part of the portfolio management team for almost four years. Prior to that, he was a financial advisor at Citigroup Wealth Advisors, India. Raviprakash has also worked with Kotak Securities, a leading securities brokerage house in India, where he was a part of the Equity Dealing platform. He started his career in 1999 with Birla Sun Life Securities. Raviprakash is a Commerce graduate from Mumbai University and a Chartered Accountant from ICAI. He is also a Charter holder of the CFA Institute, USA.

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About the Index:

The Nifty Bank Index is an index comprised of the most liquid and large capitalized Indian Banking stocks. It provides investors and market intermediaries with a benchmark that captures the capital market performance of the Indian banks. The Index has 12 stocks from the banking sector, which trade on the National Stock Exchange (NSE).

NSE Ltd. Disclaimer: It is to be distinctly understood that the permission given by NSE Ltd. should not in any way be deemed or construed that the SID has been cleared or approved by NSE Ltd. nor does it certify the correctness or completeness of any of the contents of the Scheme Information Document. The investors are advised to refer to the Scheme Information Document for the full text of Disclaimer Clause of NSE Ltd.

Nifty Bank Index Disclaimer: The SBI- ETF Banking (the Scheme) offered by SBI Mutual Fund is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL). IISL does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of the Scheme or any member of the public regarding the advisability of investing in securities generally or in the Scheme linked to Nifty Bank Index or particularly in the ability of the Nifty Bank Index to track general stock market performance in India. Please read the full Disclaimers in relation to the Nifty Bank Index in the Scheme Information Document (SID) of the Scheme.